The success and overall performance of a commercial property depends on a variety of factors. Perhaps one of the most influential is the way that owners (both property and business owner) handle and prevent personal injury liability situations. Bound to occur at some point, these incidents can cost all involved parties a great deal of time and money. Thankfully, the following sections can help you learn how preparing your commercial real estate property for premises liability can help to protect your asset (and your bottom line).

The Potential Consequences of Ineffective Premises Liability Protection

During the year 2017, more than 53,000 personal injury cases were filed in the United States. Many of these cases likely ended in a settlement, but not all. In either case, these lawsuits cause business and property owners to lose millions of dollars on an annual basis. Attorney fees, settlements, and court costs are just a fraction of the costs that can be associated with such cases. Money may not be the only loss that a business or property owner experiences; one's reputation and image can also be irretrievably damaged if the case goes poorly or receives a lot of publicity.

Mall and shopping center owners have barely had the time to develop a game-plan for the expected closures of 142 Sears stores, a requirement in their bankruptcy; now they are learning that several other specialty stores may not be renewing their commercial leases in the upcoming years. Gap and L Brands, which owns popular stores like Bath & Body Works and Victoria's Secret, are among two of the biggest retail chains that are expected to scale back between now and 2020 - and that is creating all kinds of issues for the owners of malls and shopping centers. How can they recover? Is it even possible?

Instinct, Intelligence, and Intuition Necessary for Navigating the Volatile CRE Market

The real estate market will shift and change; dips and recessions are going to happen. These are simple facts that commercial real estate life must accept. Moreover, the way an investor navigates the challenges of their market (deciding whether to sell or hold, remodel or slash prices on existing space, negotiate a deal with an existing tenant or find a new one, etc.) often has a significant impact on their real estate portfolio's future health. As such, the commercial real estate (CRE) market practically demands that investors are intelligent, intuitive, and able to listen to their gut instinct - even when it bucks the trend.

When a real estate investor wants to achieve a profitable return on investment (ROI), it is important that they consider a number of variables and factors related to the property. The projected growth of an area, which is arguably one of the most critical factors in this equation, can be extremely difficult to determine, as the economy and access to jobs can change dramatically over the course of just a few short years.

Information, recently released by the Environmental and Energy Study Institute (EESI), the National Association of Realtors (NAR), and the American Public Transportation (APTA), suggests that access to public transportation may be useful in determining both the immediate growth and future growth in a given area. Learn more about the intricate connection between public transportation and real estate growth, and discover how a seasoned Naperville real estate attorney can help to increase your chances of a positive ROI on your next real estate project.

Public Transportation's Effect on the Real Estate Market

Although women have made great strides in the workplace, they continue to struggle when it comes to advancing within their own companies. Female entrepreneurs also tend to receive less funding than their male counterparts when pitching their business model or idea to a prospective investor. It has long been assumed that this bias was based on gender, but a new study offers a different perspective - that women are not being penalized for being female, but for displaying what society considers to be “stereotypically feminine traits.” Is your CRE investment firm guilty of punishing its agents and potential entrepreneurs in this way? Is there anything that can be done to mitigate the issue? The following information explains.

Study Examines Gender Bias in the Business World 

Women are generally seen as warm and nurturing, and though they take risks, they tend to be more concerned with easing people's fears than closing the deal. Published in the journal SAGE, the recent study pitted both male and female entrepreneurs against one another in a pitch competition. Investors selected finalists after hearing all of the pitches.

Commercial real estate investment (CRE) has become known as one of the most effective strategies for building wealth and a healthy retirement fund - but it may not be the best industry for every everyone. Transactions often happen quickly, the working hours can be long and intense, and it is not uncommon for an investor to buckle under the pressure in such a highly competitive market. Examine the five characteristics of a successful CRE investor to determine if commercial investing may be appropriate for your real estate portfolio, and discover how a seasoned real estate lawyer can help to mitigate the risks in areas where you may fall short.

Characteristic #1 - Adept Listening Skills

Of all the skills that a successful commercial real estate attorney should possess, adept listening skills are, perhaps, the most critical. It is required during every phase of the commercial real estate transaction process, and it is how you ensure that you are meeting the needs and demands of your customers. If you struggle with listening, consider practicing this skill to improve your potential profitability in the CRE industry.